The Food and Agriculture Organization of the United Nations (FAO) food price index, which reflects price developments in five groups of cereals, meat, dairy products, vegetable fats and sugar on the world market, rose by 3 per cent in September, after a period of stability in the summer months, the organization said on Friday.

The jump last month was the strongest since March 2022, to the highest value since July last year – 124.4 points.

Sugar prices alone jumped 10.4 per cent in the month, amid concerns in markets about the prospects of a significant deterioration in supply from major suppliers such as Brazil and India.

In addition, rising prices for sunflower, rapeseed, soybean and palm oil pushed the vegetable fat price index up 4.6% on the month to its highest level since December 2022. 

In September, international dairy prices rose by 3.8 per cent.

Cereals appreciated by 3 percent, primarily due to wheat, mainly because of concerns about adverse weather conditions among some major exporters.

Meat products appreciated the least over the month by 0.4%, and this was only due to poultry meat.